“I do not understand why anyone would pay this much when it is possible to buy ocean front places in the Caribean or South America for half as much money.”
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But where are you going to work? And what kind of $$ will you make? What about cost of living? (How about those $8 glasses of OJ in the islands?) Quality of healthcare? How often will you see friends and family if you move to South America? The list goes on and on. Simply not a great option for most folks.